Acer eyes 25% growth in banking sector business in India

Acer is seeing increase in demand for IT products as bank branches invest heavily on synchronisation and automation of operations.

PTI|

Updated: Feb 16, 2014, 01.04 PM IST

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Acer is seeing increase in demand for IT products as bank branches invest heavily on synchronisation and automation of operations.

NEW DELHI: Driven by strong adoption by public banks, Taiwanese PC maker Acer expects revenues from the banking sector to grow at 25 per cent this year.

Acer, which counts Canara Bank, State Bank of India, ICICI Bank and others as its clients, is seeing increase in demand for IT products as bank branches invest heavily on synchronisation and automation of operations.

"Banking, financial services and insurance has been the fastest growing market for us with an expected growth rate of 25 per cent this year. In CY 2013, BFSI segment grew at 20 per cent," Acer India Chief Marketing Officer S Rajendran told PTI.

Currently, the ratio of business from PSUs and private sector bank stands at 80:20, he added.

BFSI contributes 15 per cent of Acer's total revenue. Though the company does not provide break-up of country-wise revenues, analysts pegged Acer's India revenues to be about Rs 3,600 crore.

"The last 6-9 months have seen dynamic changes in the Indian BFSI sector, driven by large overarching need for computerisation (as mandated by RBI) and financial inclusion policies among other factors," Rajendran said.

Acer is an ideal partner to help banks as they look at total branch automation, expansion and banking services, he added.

"Out the 26 banks that are currently present in the country, we have won orders from 23 banks, testifying to Acer's strength in the entire BFSI segment," Rajendran said.

Acer, which provides desktops, servers, notebooks and now tablets as well to banks, partners with system integrators like Infosys, TCS, CMS and CMC to deliver these projects.

"Typically the BFSI projects are region-specific, wherein we have won a large per centage of the entire order. The order value of each of these projects is in the range of Rs 1-1.5 crore to Rs 40 crore," he added.